Van ECK Associates Corp Buys 9,187 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Van ECK Associates Corp grew its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUSFree Report) by 75.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,300 shares of the basic materials company’s stock after acquiring an additional 9,187 shares during the period. Van ECK Associates Corp’s holdings in Olympic Steel were worth $778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Olympic Steel by 1.8% during the first quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock valued at $48,306,000 after acquiring an additional 12,242 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Olympic Steel by 10.7% during the second quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock valued at $12,550,000 after acquiring an additional 27,123 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Olympic Steel by 21.6% during the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock valued at $6,358,000 after acquiring an additional 25,201 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Olympic Steel by 62.0% during the second quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock valued at $4,429,000 after acquiring an additional 37,798 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Olympic Steel by 5.2% during the first quarter. Sei Investments Co. now owns 76,498 shares of the basic materials company’s stock valued at $5,422,000 after acquiring an additional 3,756 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Check Out Our Latest Report on Olympic Steel

Olympic Steel Price Performance

NASDAQ ZEUS opened at $42.15 on Tuesday. The firm’s fifty day simple moving average is $38.23 and its two-hundred day simple moving average is $44.45. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. The firm has a market capitalization of $469.26 million, a P/E ratio of 18.49 and a beta of 1.47.

Olympic Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, December 2nd. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.

Olympic Steel Company Profile

(Free Report)

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.

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Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

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